Stratasys (NASDAQ:SSYS) Shares Gap Up – Here’s What Happened

Shares of Stratasys Ltd. (NASDAQ:SSYS) gapped up before the market opened on Monday . The stock had previously closed at $9.31, but opened at $10.84. Stratasys shares last traded at $11.12, with a volume of 1,211,195 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target on shares of Stratasys in a research report on Monday. Craig Hallum boosted their price target on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded Stratasys from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 target price on shares of Stratasys in a report on Monday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Stock Performance

The business has a 50-day moving average of $9.44 and a 200-day moving average of $8.36. The stock has a market capitalization of $800.17 million, a price-to-earnings ratio of -8.51 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The firm had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.49 million. During the same quarter last year, the company posted ($0.05) earnings per share. The business’s revenue was down 13.6% on a year-over-year basis. On average, research analysts predict that Stratasys Ltd. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSYS. Quantbot Technologies LP purchased a new position in Stratasys during the third quarter worth $90,000. Stifel Financial Corp raised its stake in Stratasys by 24.7% in the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock valued at $193,000 after purchasing an additional 4,600 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Stratasys in the 3rd quarter valued at about $210,000. Verition Fund Management LLC acquired a new stake in shares of Stratasys during the 3rd quarter worth about $322,000. Finally, Tidal Investments LLC grew its holdings in shares of Stratasys by 4.6% during the third quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock worth $467,000 after buying an additional 2,483 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

About Stratasys

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.